The Ministry for the Economy and Finance hereby announces that on Thursday 20 May 2010 it will be carrying out an exchange at the Bank of Italy by way of uniform-price auction with allotment price and amount allocated being set discretionally.
Bids at prices considered unfavourable on the basis of market conditions will be excluded.
Only state bond specialist dealers shall be eligible to participate in the exchange. Commission on placing will not be paid.
One bond will be issued in exchange for the purchase of five bonds.
The bond to be issued is the BTP 01/08/2017 coupon 5.25% (IT0003242747)
The bonds admitted to the exchange buyback are:
- BTP 01/02/2011 coupon 3.75% (IT0004332521
- BTP 01/08/2011 coupon 5.25% (IT0003080402
- BTP 01/09/2011 coupon 4.25% (IT0004404973
- CCT 01/11/2011 (IT0003746366)
- BTP 01/02/2012 coupon 5% (IT0003190912
At 10am on the day scheduled for the auction, the buyback prices of the bonds admitted to the exchange will be announced.
Offers from dealers must reach the Bank of Italy by 11am on the day of the auction.
Settlement is scheduled for 25 May 2010.